This Lease Agreement (hereinafter referred to as the “Agreement”) is made and entered on this ____ day of _____ 2021 (the “Effective Date”), between _________________, Contact Info ____________________ (hereinafter referred to as the “Party A”), and ____________________, Contact Info: ____________________ (herein referred to as the “Party B”) for the premises ______________ located on ___________ Address ____________ (hereinafter referred to as the “Premises”).
WHEREAS, both parties are co-signed tenants on the current lease agreement and that Party A shall have their name removed from the lease on the 12th December 2021.
NOW THEREOF, in consideration of the mutual covenants and promises made by the Parties hereto, the Parties covenant and agree as follows:
This Sublease shall commence as of the 16th Day of December 2021 when the entire lease shall be transferred from Party A to Party B.
Party B shall continue as the only Tenant of the premises from the 16th Day of December 2021 until the expiry of the lease on the _____________.
The Party A shall continue staying on the premises from the 16th Day of August 2021 to the 16th Day of December 2021, when the entire lease shall be transferred to the Party B.
The Party A shall pay Five Hundred Dollars ($500) per month for four months until the lease is transferred to Party B, which shall be Two Thousand Dollars ($2000). Both Parties acknowledge this as a fees Party A shall pay to Party B, not part of the premise’s rent.
After the 16th December 2021, Party B shall be solely responsible for the entire rent for the premises which is set at ______________ Dollars in the tenancy contract. All rent payments shall be payable to Landlord at Landlord’s address captioned above or at another address should Landlord so request from Party B in writing.
- NO CRIMINAL ACTIVITY OR BEHAVIOR.
Party B covenants to comport at all times in a manner that is not criminal (other than traffic citations) during the term of this Lease, including but not limited to using illegal drugs and substances.
This Agreement may be terminated/cancelled by either party by issuing a written notice before the 16th Day of December 2021.
In the event of disputes arising about the execution of this Agreement and/or performance of obligations stated herein, the Parties shall solve such issues through a binding arbitration process in accordance with the ADR rules and mechanisms of the State of California, USA.
This Agreement contains the entire Agreement between the Parties relating to the subject matter hereof and supersedes any and all prior agreements or understandings, written or oral, between the parties related to the subject matter hereof. No modification of this Agreement shall be valid unless made in writing and signed by both parties hereto.
- GOVERNING LAW/JURISDICTION.
This Agreement shall be governed by and construed in accordance with the laws of the State of California, USA. Exclusive jurisdiction and venue shall be in the State of California, USA.
Each party represents and warrants to the other that such party has acted in good faith, and agrees to continue to so act, in the negotiation, execution, delivery, performance, and any termination of this Agreement.
IN WITNESS WHEREOF, this Agreement has been executed by the parties as of the Effective Date.
PARTY A: _____________ _________________________ ___________
(SIGNATURE) (NAME) (DATE)
PARTY B: _____________ ____________________________ ___________
(SIGNATURE) (NAME) (DATE)
At Legal writing experts, we would be happy to assist in preparing any legal document you need. We are international lawyers and attorneys with significant experience in legal drafting, Commercial-Corporate practice and consulting. In the last few years, we have successfully undertaken similar assignments for clients from different jurisdictions. If given this opportunity, The LegalPen will be able to prepare the legal document within the shortest time possible. You can send us your quick enquiry ( here )